The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

  Bloomberg Orders for US durable goods increased more than forecast in February, a sign companies are confident about the outlook for the economy. Bookings for goods meant to last at least three years rose 1.7 percent after a 2.3 percent advance the prior month that was larger than previously estimated, Commerce Department data showed. The median forecast of economists ...

  There was bound to be a political commotion when the Trump administration released its 2018 budget. After all, it isn’t every day that the White House proposes deep cuts in agency spending: for 2018, the Environmental Protection Agency would be down 31 percent; the State Department, 29 percent; the Department of Education, 14 percent; and the Department of Transportation, ...

  America, one; Europe, nil. In Asia, at least, US financial institutions are climbing up the investment banking league tables while their euro-area counterparts sink. But Wall Street should not start celebrating now. How long their current reign lasts will depend to a large degree on how long fixed income, currencies and commodities business remains robust. Deutsche Bank AG, weighed ...

  In between tweets last weekend, President Donald Trump took time to talk with Brazilian President Michel Temer and Chilean President Michelle Bachelet. Top of mind in both calls were efforts to encourage “respect for democratic and humanitarian rights in Venezuela.” A worthy goal, but if Trump really wants to restore democracy in Venezuela, he should let Latin America take ...

  Four people were killed when a knife-wielding man went on a killing spree, driving car into the pedestrians before stabbing a police officer on the parliament compound. The assailant was shot dead by police just yards from entrances to the building itself. People from 11 countries were among the victims and more than 40 people inflicted catastrophic injuries. The ...

  As a boy, Barry Goldwater Jr., son of the former senator and 1964 Republican presidential nominee, would step out of his father’s house and shoot at tin cans 50 yards away. Now 78, he says he could fire in any direction and not endanger “anything but a cactus.” His father, born in 1909 in Arizona territory, three years before ...

  Much like a father holding the hand of his anxious son through a dark alleyway, the European Central Bank is striving to give markets guidance over how it will normalize its monetary policy. The ECB has told investors that it intends quantitative easing to continue at a pace of 60 billion euros a month from April until the end ...

  How do you get a foot in the world’s soon-to-be-biggest aviation market in the face of official intransigence from its government? American Airlines Group Inc. thinks it’s found a way. The world’s biggest airline is in talks to take a stake of about $200 million in China Southern Airlines Co. via a private placement, people familiar with the matter ...

  Andy Mukherjee What a difference a year makes, especially when it comes with hundreds of million of dollars in unexpected cash prizes. At the start of 2016, Vedanta Resources Plc’s 2019 dollar bonds were trading at less than 50 cents on the dollar. Now, they’re well above par. Founder and Chairman Anil Agarwal is celebrating by launching a debt-funded ...

  Bloomberg Germany’s state-owned development bank KfW, which gained publicity for erroneously transferring hundreds of millions of euros to Lehman Brothers the day the U.S. firm filed for bankruptcy, has done it again. KfW in February mistakenly transferred more than 5 billion euros ($5.4 billion) to four banks because of a technical glitch that repeated single payments multiple times, according ...